Engel & Volkers makes record transaction on Cote d Azur

Prestigious property near Saint-Tropez sold for over 35 million euros
Sale marks record deal for Engel & Völkers
Group s network set to expand greatly in France

Hamburg, 2 February 2010. The Engel & Volkers residential property shop in Saint- Tropez has closed the sale of an exclusive residence on the Cote d’Azur for the record price of over 35 million euros. The property is situated in France s Var region, on the Mediterranean coast between Saint-Tropez and Saint-Raphael. All parties involved have agreed not to disclose any further details regarding the sale. The transaction marks the largest brokerage deal of a private residence in the entire history of Engel & Volkers. Moreover it represents a turning point on the Cote d’Azur property market: After the market declines resulting from the financial crisis, house prices for top-end prestige estates now seem to be peaking again at the levels we were witnessing back in 2007, said Kris Kristoffersen from the Engel & Völkers shop in Saint-Tropez.

Engel & Völkers is pursuing ambitious growth targets in France. Now that expansion of the network is almost complete throughout Belgium, the next major objective is to continue this rapid expansion into France. In the long term, Engel & Volkers plans to open around 130 additional residential property shops right across the country from the northern regions to Paris and right down to the coastal hotspots of the south of France.

Worldwide, the Engel & Völkers network comprises almost 400 residential property shops and 42 commercial offices operating in 34 countries across four continents. The Group plans to open approximately 100 new residential property shops during the course of 2010.

Engel & Völkers is one of the world s leading service companies specialised in the sale and leasehold of premium residential property, commercial real estate and yachts. Almost 400 residential property shops specialised in high-class real estate and 42 commercial offices brokering office, retail and industrial space, investment properties, residential and commercial real estate and property portfolios offer both private and institutional clients a professionally tailored range of services. Engel & Völkers is currently operational in 34 countries on four continents.

For further information please contact:

Princess Wittgenstein
Stadthausbrücke 5
20355 Hamburg
Phone: +49 40-36 13 11 20
Fax: +49 40-36 13 11 02

german communications dbk AG
Jorg Bretschneider
Alsterufer 34
20354 Hamburg
Phone: +49 40-46 88 33 0
Fax: +49 40-47 81 80

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